Crates Health
Crates Health is a US-based consumer health-tech platform founded in 2024 that enables individual HSA/FSA account holders to claim pre-tax savings on wellness purchases (gyms, fitness, recovery, supplements) via digital Letters of Medical Necessity and one-click reimbursement through major HSA/FSA administrators.
- Company typePrivate
- Founded2024
- Headquarters—
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What Crates Health does
Crates Health is a US-based consumer health-tech company founded in 2024 that helps individuals use pre-tax Health Savings Account (HSA) and Flexible Spending Account (FSA) funds to pay for wellness products and services they would otherwise buy with after-tax dollars. The company targets HSA/FSA account holders who want to reduce spending on categories including gym memberships, fitness trackers, personal training, recovery devices, yoga and Pilates studios, connected fitness equipment (Peloton, Tonal, Hydrow), sleep tech (Eight Sleep), and supplements (Seed, Ritual, AG1, Momentus, Magic Mind, HigherDose, Therabody, Hyperice). Crates cites that 90%+ of HSA/FSA account holders are unaware wellness expenses are eligible, and that the traditional Letter of Medical Necessity process requires doctor visits, costs $50–$100+, and takes weeks — frictions the company is built to remove.
The product is a self-serve web platform (app.crateshealth.com) comprising three components: a 2-minute health assessment that maps a user's existing wellness routine to HSA/FSA-eligible conditions; expedited Letter of Medical Necessity issuance by a licensed medical team (the company states completed within hours, without doctor visits); and one-click receipt submission and reimbursement processing integrated with major HSA/FSA administrators including HealthEquity, Fidelity, Optum, HSA Bank, Bank of America, Navia, WEX, and FSAFEDS. Underlying technology is a web workflow with claim-submission automation; the data describes no AI/ML capability. Distribution is product-led-growth via a content-marketing blog with 56+ brand-specific HSA/FSA eligibility articles, long-tail SEO, and a TikTok creator community showcasing real savings stories.
Crates monetizes as an annual subscription with three tiers — One Product ($39/year, 1 LMN), Three Products ($79/year, 3 LMNs, most popular), and Unlimited ($99/year, unlimited LMNs, early access to new tools). Membership fees are themselves HSA/FSA-eligible and the company offers a savings-back guarantee: subscription cost is refunded if member savings do not exceed it. The company is private, founder-led (CEO Anchor Ebanks), 1–10 employees, with no disclosed funding rounds, revenue, partnerships, patents, or office locations at the time of data capture.
Crates Health firmographics
Firmographics- Name
- Crates Health
- Legal name
- Crates Health
- Website
- https://crateshealth.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Crates Health is a US-based consumer health-tech platform founded in 2024 that enables individual HSA/FSA account holders to claim pre-tax savings on wellness purchases (gyms, fitness, recovery, supplements) via digital Letters of Medical Necessity and one-click reimbursement through major HSA/FSA administrators.
- Ownership category
- akta.pro rank
Crates Health industry classification
Industry- Product category
- HSA/FSA Wellness Reimbursement
- NAICS
- Health and Welfare Funds (525120), Insurance and Employee Benefit Funds (5251)
- SIC
- Hospital & Medical Service Plans (6324), Services-Health Services (8000)
- akta.pro primary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
- akta.pro secondary industries
- Membership/Subscription Concierge Virtual Care (HLALAAAH), High-Deductible Health Plans (HDHP) with HSA-Eligible Coverage (FSAIAFAM)
Keywords
Crates Health business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Subscription Membership: Annual subscription plans (One Product $39/yr, Three Products $79/yr, Unlimited $99/yr) that enable users to obtain Letters of Medical Necessity and process reimbursements for HSA/FSA-eligible wellness purchases. Membership fees are themselves HSA/FSA eligible.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | One Product — $39/year: 1 Letter of Medical Necessity, limited receipt storage, one-click reimbursement |
| Subscription | Annual | Three Products — $79/year: 3 Letters of Medical Necessity, most popular tier |
| Subscription | Annual | Unlimited — $99/year: Unlimited LMNs, unlimited receipt storage, early access to new HSA savings tools |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Crates Health product offering
Product offeringCore offering
Crates Health is a self-serve subscription platform that helps individual HSA/FSA account holders unlock pre-tax savings on wellness purchases. Members complete a 2-minute online health assessment; licensed medical providers issue Letters of Medical Necessity (LMNs) within hours; members shop at any retailer; and the platform submits reimbursement documentation to the user's HSA/FSA administrator on their behalf. The service is sold as annual subscriptions ($39, $79, or $99) whose fees are themselves HSA/FSA eligible.
Product overview
Crates Health is a health technology platform that enables users to save 30% or more on wellness expenses by facilitating HSA (Health Savings Account) and FSA (Flexible Spending Account) reimbursement. The core product is a subscription-based service offering three tiers: One Product ($39/year), Three Products ($79/year), and Unlimited ($99/year), differentiated by the number of Letters of Medical Necessity (LMNs) provided, receipt storage capacity, and additional features. Users complete a health assessment, receive LMNs from licensed healthcare providers for qualifying wellness products, shop normally with their regular payment methods, and then upload receipts for reimbursement through their HSA/FSA accounts. The platform covers a broad ecosystem of wellness brands and products including gym memberships (Equinox, CorePower Yoga, Anytime Fitness), fitness equipment (Tonal, Hydrow, Peloton), health tech wearables (WHOOP, Oura Ring, Eight Sleep), recovery devices (Therabody, Hyperice, HigherDose), and supplements (Momentus, Seed, Magic Mind, Ritual, AG1). The service processes reimbursements on behalf of users by submitting documentation to their HSA/FSA administrators.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Members save an average of $1,671 each year on wellness expenses
- +5 more outcomes
Companies that use Crates Health
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Crates Health technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Crates Health partnerships and signals
Strategic signalScale indicators3 records
Recent moves5 records
Expansion highlights5 records
Crates Health competitors and assessment
Company assessmentBroad incumbents
- HealthEquity: HealthEquity is the largest independent HSA custodian in the U.S., administering millions of HSA/FSA accounts. Its scale and existing member relationships position it as the most threatening potential incumbent if it builds in-house wellness/LMN capabilities.
- Fidelity HSA: Fidelity is one of the largest HSA administrators in the U.S. and is listed as a supported provider on Crates' platform, illustrating the overlap and competitive threat from incumbent custodians adding wellness tools.
- Optum Financial (UnitedHealth Group): Optum administers HSA/FSA accounts for large employers and is already integrated into many benefits platforms. Its clinical, payer, and benefits infrastructure make it a natural owner of an integrated HSA/FSA wellness solution.
- Hims & Hers Health: Hims & Hers sells wellness-adjacent supplements and telehealth services, often facilitating HSA/FSA reimbursement via its own clinicians. Its scale and consumer brand make it a credible entrant into Crates' category.
Direct peers
- Thatch: Thatch provides HSA/FSA navigation tools and reimbursement support for wellness, fitness, and nutrition expenses, putting it in the same product-led-growth category as Crates Health.
- TrueMed: TrueMed offers an LMN-based platform that lets consumers use HSA/FSA funds for wellness purchases, mirroring Crates' core value proposition. Both companies operate in the same niche of digitally-issued medical necessity letters for gym memberships, supplements, and recovery products.
- Lively: Lively operates an HSA platform with consumer-friendly tools and a wellness marketplace, overlapping with Crates' positioning as a modern HSA/FSA experience for younger, wellness-oriented consumers.
- FSA Store / HSA Store (Lively): FSA Store/HSA Store is an online marketplace for HSA/FSA-eligible products, directly overlapping with Crates' reimbursement-facilitation model for wellness. Both target HSA/FSA account holders seeking to maximize pre-tax wellness spending.
- Whealth: Whealth operates an HSA/FSA optimization platform focused on helping consumers apply pre-tax dollars to wellness, comparable in mission and product approach to Crates.
Emerging players
- Sesame Care: Sesame provides direct-pay telehealth visits that can produce LMNs and other documentation; it represents a partial overlap with Crates' licensed-provider LMN workflow and could expand into the same wellness-reimbursement space.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights7 records
Customer concentration
Crates Health social profiles
Digital presenceCrates Health financial estimates
Financial estimateRevenue estimate
Valuation estimate
Crates Health leadership team
Management profileNumber of profiles
Profiles1 record
Crates Health funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Crates Health M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Crates Health
What does Crates Health do?
Crates Health is a self-serve subscription platform that helps individual HSA/FSA account holders unlock pre-tax savings on wellness purchases. Members complete a 2-minute online health assessment; licensed medical providers issue Letters of Medical Necessity (LMNs) within hours; members shop at any retailer; and the platform submits reimbursement documentation to the user's HSA/FSA administrator on their behalf. The service is sold as annual subscriptions ($39, $79, or $99) whose fees are themselves HSA/FSA eligible.
Is Crates Health a public or private company?
Crates Health is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Crates Health founded?
Crates Health was founded in 2024. It employs 1 to 10 people.
How does Crates Health make money?
One revenue line is on record: subscription Membership.
Who are Crates Health's main competitors?
Broad incumbents on record are HealthEquity, Fidelity HSA, Optum Financial (UnitedHealth Group) and Hims & Hers Health. Direct peers are Thatch, TrueMed, Lively, FSA Store / HSA Store (Lively) and Whealth. Sesame Care is listed as an emerging player.
Does Crates Health have an API?
No public API is recorded for Crates Health.
What industry is Crates Health in?
Crates Health's product category is HSA/FSA Wellness Reimbursement. Its primary akta.pro industry code is HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA), with a secondary code of HLALAAAH, Membership/Subscription Concierge Virtual Care. Its NAICS code is 525120 and its SIC code is 6324.